WWE To Cut $20 Million From Budget This Year?
Posted by Jeremy Thomas on 06.16.2014
The company is scaling back...
- As you well know by now, WWE made significant (if not unexpected) talent cuts last week by releasing eleven on-screen talents from their contracts. According to WrestleZone, this is part of an ongoing effort to cut about $20 million from the company's operating budget for this year.
Previous reports and statements by WWE have indicated that they will take a loss due to the WWE Network and other elements, and this would lead into the company's cost-cutting measures. In addition to the talent cuts, the company is cutting out some production elements such as Fandango's golden curtain entrance and the lift that Bad News Barrett used. With the company now able to take the truck used to transport those entrances off the road, they have saved about $250,000.